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New Zealanders have become more cautious about the use of credit and more likely to save following the global financial crisis, according to credit company Dun & Bradstreet. Some 39 percent of people said they are more likely to save money in the next three months compared to the same time last year, while 28 percent are less likely and …

The limited level of damage sustained by Wellington in the 6.5 magnitude earthquake on Sunday is unlikely to result in higher reinsurance costs, according to local insurers. The swarm of quakes over the past five days damaged just 35 buildings in the capital city, most of it minor, meaning Wellington corporates and the public sector could get back to business …

The Dow Jones Industrial Average rose to a record, bolstered by better-than-expected earnings and a more upbeat profit outlook from United Technologies. Shares of United Technologies advanced, last up 3.2 percent, after the company lifted the lower end of its full-year profit forecast. “The growth in orders is fuel for the coming quarters,” Chief Executive Officer Louis Chenevert told Bloomberg …

New Zealand shares rose as investors renewed their appetite for growth stories such as Xero and Diligent Board Member Services, while Synlait Milk soared 25 percent in its NZX debut. The NZX 50 Index gained 26.550 points, or 0.6 percent, to 4580.591. Within the index, 25 stocks rose, nine fell and 16 were unchanged. Turnover was $78 million. OceanaGold, the …

Loss-making start-up companies with heavy research and development expenditure will be eligible for a tax-free loan of up to $500,000 annually under proposals outlined in a discussion paper released today. The tax rules, as they stand, are seen to discourage R&D-intensive start-up firms because they have more difficulty than most accessing bank lending, can often expect to make losses for …

The New Zealand dollar rose above 80 US cents for the first time in a month as a lull in US data keeps traders unsure as to where the Federal Reserve is leaning in its plan to unwind its stimulus programme, and as volatility in financial markets dwindled to a three month low. The kiwi rose as high as 80.06 …

University of Canterbury vice-chancellor and former Reserve Bank deputy governor Rod Carr has been appointed chairman of the central bank by Finance Minister Bill English. Carr will replace Arthur Grimes, who spent 11 years as the Reserve Bank’s chair, from Sept. 18, the central bank said in a statement. Sue Sheldon has been reappointed deputy chair. Reserve Bank directors appointed …

Synlait Milk jumped 19 percent in its NZX debut after raising $75 million in an initial public offering that was restricted to clients of brokers and institutional investors. The shares first traded at $2.62 compared with the IPO price of $2.20. They were last at $2.75, valuing the company at $402 million. Synlait Milk will use the $75 million raised …

Wynyard Group, which raised $65 million as part of its NZX listing on Friday, has bought UK-based MHA Gateway’s anti-financial crime service for an undisclosed sum. The intelligence software developer bought the intellectual property, customer contracts and exclusive rights to the gateway service from MHA Compliance and Training, a 20-year-old, Surrey-based firm whose suite of tools are used in the …

Warehouse Group, New Zealand’s biggest listed retailer, has firmed up plans to improve its workforce with better training and longer service rewarded with higher pay. Starting Aug. 1, Warehouse will introduce a ‘career retailer wage’ for staff who have completed full training and worked 5,000 hours or more, equivalent to just over two years’ full-time work, the Auckland-based company said …